YENHER Holdings Bhd, a manufacturer and distributor of animal health and nutrition products, has signed an underwriting agreement with RHB Investment Bank Bhd as the sole principal adviser, sole underwriter and sole placement agent for its listing exercise on the Main Market of Bursa Malaysia.
The initial public offering (IPO) entails a public issue of 64.43 million shares of which RHB will underwrite 30 million shares comprising those made available for application by the Malaysian public and those allocated to eligible directors, employees and persons who have contributed to the success of Yenher Group.
Yenher had on May 7 received the Securities Commission’s (SC) approval for its IPO and listing/quotation for its entire enlarged issued share capital of 300 million shares.
Subsequently, Bursa Malaysia had on May 25 approved the listing of the company’s shares on the Main Market.
An investment holding company, the Penang-based Yenher through its subsidiaries is principally involved in the manufacturing and distribution of animal health and nutrition products.
The group also provides value-added diagnostic and material analyses services as well as complimentary consulting services for its customers.
“I would like to take this opportunity to thank all our customers and suppliers for their continuous trust and support to the group over the years, without which this would not have been possible,” commented Yenher managing director Cheng Mooh Tat.
“Going forward, we will tap into the capital markets to accelerate our growth plans, to explore the new markets abroad and to expand our product range by leveraging on our experienced management team.”
Additionally, Yenher plans to construct a new manufacturing plant which will increase the current production capacity to cater for higher demand for our products.
The animal health and nutrition industry in Malaysia is anticipated to remain resilient due to its continued dependency on the livestock industry.
According to a strategic analysis of the animal health and nutrition industry in Malaysia as furnished by the company to the Securities Commission, the animal health and nutrition industry in Malaysia is projected grow from RM2.17 bil in 2019 to RM2.71 bil in 2024, hence registering a compound annual growth rate (CAGR) of 4.6%.
Two other listed players in the industry are Peterlabs Holdings Bhd and Rhone Ma Holdings Bhd. – June 3, 2021
